Anchor Glass tumbles after downgrade

SusanLerner

NEW YORK (MarketWatch) -- Shares of Anchor Glass Container Corp.
agcc
slid 48 cents, or 12 percent, to $3.55 after Bank of America slapped a "sell" rating on the stock and cut its price target to $2 from $6 on ehanced concerns about the company's liquidity following its fourth-quarter earnings report released Friday. "We believe it could be challenging for Anachor to make its next coupon payment," analyst Kuni Chen told clients, adding that continued pressure from plant conversions and competitors present an ongoing challenge.

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